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Small Business Resource Guide -
Chapter 8 -
Minority Bank Deposit Program

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 Information by State
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The Minority Bank Deposit Program (MBDP) is a voluntary program to encourage Federal agencies, State and local governments and the private sector to use MBDP participants as depositories and financial agents. Qualified MBDP participants are certified by the Financial Management Service (FMS), a bureau of the Department of the Treasury, and included on a program roster distributed nationally to Federal program agencies, contractors and other public and private sector organizations.

An eligible financial institution must apply and receive certification from the Financial Management Service, Department of the Treasury to become a participant in the MBDP. It is important to note that MBDP participants are expected to notify FMS of any change in status that could affect MBDP eligibility. Information is available from:

Financial Management Service
Cash Management Policy & Planning
401 - 14th Street, SW
Washington, DC 20227
Phone – (202) 874-6950

MBDP financial institutions market their services to Federal agencies as they would to any potential customer. MBDP participants should contact local, regional and national offices of Federal agencies to determine if banking-type services are needed and can be established. If a Federal agency chooses to use a MBDP participant as a depository, the agency must coordinate the banking-type arrangements with its headquarters office and the Financial Management Service, Department of the Treasury.

If you are interested in additional information on the MBDP, please visit the Department of Treasury web site at: http://www.treas.gov/.

 
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